The Lone Pine Tree commemorates the centenary of Anzac and those who served in World War One. The tree replaces an Australian Pine tree. Funding was received through the Anzac Centenary Grants Program.

The Lone Pine was a solitary tree on the Gallipoli Peninsula in Turkey, which marked the site of the Battle of Lone Pine in 1915. Pines which are planted as a memorial to the Australian and New Zealand soldiers who fought in Gallipoli are also known as "Lone Pines" or "Gallipoli Pines", referencing the original tree.

The tree was obliterated during the battle; however, pine cones that had remained attached to the cut branches over the trenches were retrieved by two Australian soldiers and brought home to Australia. Seedlings grown from the cones were planted at the Shrine of Remembrance in Melbourne and at the Australian War Memorial in Canberra. Seedlings were also planted in Victoria at Wattle Park, the Memorial Hall at The Sisters near Terang and Warrnambool Botanic Gardens as well as Inverell in New South Wales.

The Shrine of Remembrance's lone pine was felled in August 2012 and the timber used as part of a remembrance project, after a disease known as Diplodia pinea or blue stains fungus as it commonly called killed it.